SPDR® Gold Shares (GLD)

Investment Objective

The investment seeks to reflect the performance of the price of gold bullion, less the expenses of the Trust's operations.
The Trust holds gold bars and from time to time, issues Baskets in exchange for deposits of gold and distributes gold in connection with redemptions of Baskets. The gold held by the trust will only be sold on an as-needed basis to pay trust expenses, in the event the trust terminates and liquidates its assets, or as otherwise required by law or regulation.